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- 1 The price of IOTA is currently trading near $0.1826 with an appreciation of 22.72% in the 24-hour trading volume.
- 2 The IOTA price is up by 13.52% within the last 7 days.
IOTA price prediction suggests that IOTA crypto is presently under the bear’s firm grasp. The IOTA price has been taking constant resistance from the 50 EMA for the past few months; moving under the 200 EMA on the daily chart. The IOTA crypto is currently moving within a descending channel which allows it to make predictable movements.
According to the historical price action, the IOTA token price can take a reversal from the $0.2000 price point as it is acting as the immediate resistance level for the token. The investors may face increased selling pressure from the $0.2000 point.
IOTA is focused on being utilized for the machine-to-machine economy of the Internet of Things, data integrity, micro/ nano payments, and other applications where a scalable decentralized system is required.
IOTA Price Prediction: Technical Analysis on Daily Chart
The price action suggests that the IOTA may make a bearish correction shortly. It is moving below all the crucial EMA and MA levels which will act as significant resistance levels for the price. The buyers may find it a challenging task to take the control back from the sellers.
The current RSI value of the IOTA token is 58.43 points. The RSI line is presently taking support from the 14 SMA levels around 41.60 points.
Technical Analysis on Daily Chart IOTA/BTC
The IOTA/BTC pair started trading under a downtrend after breaking its range around $0.0001200. The price is seeing comparatively more decline in its value from IOTA/USDT pair.
The IOTA/BTC price is presently facing grave resistance from the 50 EMA line. The IOTA price can make a short rally before taking a reversal according to the historical price action.
The oscillators are trading against each other. The RSI line is taking a reversal near the demand zone where the stochastic RSI is trading near the overbought level.
Conclusion
According to the analysis, IOTA price prediction is presenting an ominous picture regarding future trends. The price action suggests that investors currently are on the short side under the bear’s influence on the daily timeframe.
Technical Levels:
- Support -$0.1200
- Resistance – $0.2000 and $0.2500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
